Diagnostic Electrocardiograph (ECG) Market to grow by USD 4.35 billion from 2023 to 2028; North America to account for 39% of market growth- Technavio

NEW YORK, Nov. 17, 2023 /PRNewswire/ -- The diagnostic electrocardiograph (ECG) market is expected to grow by USD 4.35 billion from 2023 to 2028. In addition, the momentum of the market will progress at a CAGR of 8.49% during the forecast period, according to Technavio Research. The market has been segmented by end-user (hospitals/clinics/cardiac care centers, ambulatory surgical centers, and home settings), product (resting ECG, stress, mobile cardiac telemetry device, and implantable loop recorder), and geography (North America, Europe, Asia, and Rest of World (ROW)).

North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technological advances and new products, a rapidly increasing number of diagnosed ECG tests as well as favorable reimbursement conditions in North America are the major drivers for market growth in this region.

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Company Profile:

ACS Diagnostics Inc., Allengers Medical Systems Ltd., Ambu AS, Baxter International Inc., Bionet America, BPL MEDICAL TECHNOLOGIES Pvt. Ltd., Cardioline SpA, EDAN Instruments Inc., Fukuda Denshi Co. Ltd., General Electric Co., Innomed Medical Inc., Koninklijke Philips N.V., Midmark Corp., Mindray Bio medical Electronics Co. Ltd., NEXUS LIFECARE PVT. LTD., Nihon Kohden Corp., Norav Medical, OSI Systems Inc., SCHILLER AG, and VectraCor Inc.

ACS Diagnostics Inc. - The company offers diagnostic electrocardiographs such as ACS Diagnostics.

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• The market share growth by the hospitals/clinics/cardiac care centers segment will be significant during the forecast period. The growing incidence of Cardiovascular Diseases and a rise in the number of heart specialist hospitals, as well as business strategies developed by end users and market players are driving the adoption of diagnostics ECGs.

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Diagnostic Electrocardiograph (ECG) Market: Market Dynamics

Key Driver

• Increasing number of heart specialty centers
• Increased incidence of cardiac disorders
• Increasing focus on preventive treatment

The growing number of heart specialty centers across the world is a key factor driving market growth. The demand for specialized outpatient cardiology centers is being driven by the growing need for CVD diagnosis and treatment. These centers/clinics offer the diagnosis and treatment of various CVDs, such as heart failure, hypertrophic cardiomyopathy, atrial fibrillation, hypertension, and valvular heart disease. The diagnostics ECG market is expected to grow due to the growing number of specialized cardiac centers.

Increasing uptake of MCT is a primary trend shaping the diagnostic electrocardiograph (ECG) market growth.  Identify key trends, drivers, and challenges in the market. Download a sample to gain access to this information.

Related Reports:

The echocardiography (ECG) devices market is estimated to grow by USD 4,102.12 million at a CAGR of 5.7% between 2022 and 2027. 

The ambulatory cardiac monitoring devices market size is estimated to grow by USD 2.09 billion at a CAGR of 6.28% between 2022 and 2027. 

What are the key data covered in this diagnostic electrocardiograph (ECG) market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the diagnostic electrocardiograph (ECG) market between 2023 and 2028.
• Precise estimation of the diagnostic electrocardiograph (ECG) market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the diagnostic electrocardiograph (ECG) market across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of diagnostic electrocardiograph (ECG) market companies.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-User 

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio